Annual report 2022
A turbulent year
The fund returned -14.1 percent, or -1,637 billion kroner, in a year of rising interest rates, high inflation and war in Europe. However, the market value of the fund increased by 90 million kroner in 2022. This was because the krone fell against the currencies in which the fund is invested, and because new capital was added to the fund. The fund’s return was 0.87 percentage point higher than the return on the benchmark index, equivalent to 117 billion kroner.
The key figures were presented at a press conference on 31 January
CEO Nicolai Tangen and Deputy CEO Trond Grande presented the fund's key figures of 2022. Some of our expert provided a deeper insight into specific areas and sectors of relevance in the year that has passed. The press conference was in English.
Return in 2022
-1,637 billion kroner
-15.4% return on equity
The equity investments returned -15.4 percent.
-12.1% return on fixed income
The fixed-income investments returned -12.1 percent.
0.1% return on real estate
The unlisted real estate investments returned 0.1 percent.
5.1% return on infrastructure
The unlisted renewable energy infrastructure investment returned 5.1 percent.
12,429 billion kroner
8,672 billion kroner
The equity investments had a market value of 8,672 billion kroner. This was to 69.8 percent of the fund's total value.
3,412 billion kroner
The fixed-income investments had a market value of 3,412 billion kroner. This was to 27.5 percent of the fund's total value.
330 billion kroner
The unlisted real estate investments had a market value of 330 billion kroner. This was to 2.7 percent of the fund's total value.
15 billion kroner
The unlisted renewable energy infrastructure investment had a market value of 15 billion kroner. This was to 0.1 percent of the fund's total value.
Responsible investment in 2022
The fund's work on responsible investment is presented in a separate report.